Vgp Nv · EURONEXT:VGP
Vgp Nv — Investor Presentation (September 2026)
28 slides from Vgp Nv's investor presentation, September 2026
Slide 1: Company Presentation
September 2026 Company Presentation vgpparks.eu
Slide 2: VGP at a glance: €9.2 billion of assets under management
VGP AT A GLANCE € 9.2 billion of assets under management, 18 countries Key figures at 30 June 2026, joint ventures at 100% unless stated otherwise. ASSETS UNDER MANAGEMENT COMMITTED ANNUALISED RENT SHAREHOLDERS' EQUITY EBITDA € 9.2 bn € 488.9 m € 2.9 bn € 186.4 m Gross asset value including the join
Slide 3: European footprint of 140 parks
PORTFOLIO European footprint of 140 parks 140 parks in the own portfolio and the joint ventures, at August 2026. WHERE THE PARKS ARE PARKS Germany France 140 Czech Republic Denmark in the own portfolio and the joint Spain Slovakia ventures, at August 2026 Italy Latvia Hungary Netherlands Portugal Cr
Slide 4: Investment portfolio at share of €6.1 billion
PORTFOLIO GROWTH Investment portfolio at share of € 6.1 billion Own portfolio plus VGP's share of the joint ventures. Including the joint ventures at 100%, gross asset value is € 9.2 billion. Investment portfolio at share (€ billion) COMPOUND ANNUAL GROWTH 6.1 4.8 5.0 5.6 21.9% 4.6 a year between 20
Slide 5: Nearly three decades of disciplined growth and capital recycling
TRACK RECORD Nearly three decades of disciplined growth and capital recycling Selected milestones in five chapters — from foundation in 1998 to the joint venture platform and data centre business of today. Geographic expansion Capital and portfolio transactions Partnerships, JVs and platforms PERIOD
Slide 6: Every step of the value chain carried out in house
BUSINESS MODEL Every step of the value chain carried out in house Land, design, construction, leasing, ownership, property management and energy. 01 02 03 04 05 06 Land Concept & Construction Leasing Portfolio Energy & design services Identifying prime In-house design to Acting as general Mainly lon
Slide 7: Development
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Slide 8: 10.4 million m² of owned and committed land
LAND BANK 10.4 million m² of owned and committed land Owned and committed land bank including the joint ventures; land under option is not included. Land bank by country (million m²) DEVELOPMENT POTENTIAL Germany 1.87 m Romania 1.68 m 4.3 m m² Serbia 0.96 m of lettable area embedded in the land bank
Slide 9: A landmark cohort is entering execution together
A NEW GROWTH INFLECTION POINT A landmark cohort is entering execution together Eleven positions assembled over years, activating inside the same 6–12 month window. THE COHORT 1,238,000 m² of potential lettable area across the eleven sites 29% of the 4.3 m m² of development potential in the land bank
Slide 10: Deliveries and developments
DELIVERIES AND DEVELOPMENTS 12 buildings delivered, 44 under construction Own portfolio and joint ventures combined, at 30 June 2026. DELIVERED IN H1 '26 UNDER CONSTRUCTION 12 buildings 44 buildings 236,000 m² of gross lettable area 1,140,000 m² of gross lettable area € 17.1 m 86% € 90.6 m 74% of an
Slide 11: All H1 '26 deliveries certified BREEAM 'Excellent' or better
SUSTAINABILITY All H1 '26 deliveries certified BREEAM 'Excellent' or better All H1 '26 deliveries are rated BREEAM 'Excellent' or better, or the DGNB / ÖGNI Gold equivalent. Certification of the H1 '26 deliveries, share of delivered lettable area RENEWABLE ENERGY 78 GWh sold, up 10% BREEAM Outstandi
Slide 12: Committed annualised rental income of €488.9 million
LEASING Committed annualised rental income of € 488.9 million Joint ventures at 100%. At year end, and at 30 June for 2026. Committed annualised rental income (€ million) GROWTH SINCE 2016 489 7.6× 468 413 from € 64 million of committed annualised rent at 351 year-end 2016 303 256 185 € 52.7 m 155 o
Slide 13: 482 tenants across 693 tenancy contracts
CUSTOMERS 482 tenants across 693 tenancy contracts Mix of new and renewed leases signed, H1 '25 compared with H1 '26. New lease agreements by segment, based on rent ADVANCED MANUFACTURING H1 '25 H1 '26 € 150 m of contracted rent 69% Logistics 51.6% Across 96 tenant groups in 13 countries — 30% of co
Slide 14: €419 million cash generative; €800 million of rental potential
RENTAL INCOME POTENTIAL € 419 million cash generative; € 800 million of rental potential Joint ventures at 100%. ERV is the estimated rental value of vacancy and the development pipeline. +310.6 799.5 +69.0 389.3 +30.6 419.9 Cash generative New leases Cash generative Signed, not Vacancy and Total re
Slide 15: Investment
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Slide 16: A young portfolio of large buildings
STANDING PORTFOLIO A young portfolio of large buildings Characteristics of the standing portfolio at 30 June 2026, joint ventures included at 100%. Average building age Average building size < 2 years 18% < 10,000 m² 7% 3–5 years 41% 10–20,000 m² 21% 5.1 6–10 years 33% 24,000 20–30,000 m² 25% years
Slide 17: €9.2 billion of assets under management
PORTFOLIO € 9.2 billion of assets under management Gross asset value including the joint ventures at 100%; € 6.1 billion at VGP's share. By ownership (€ billion) By region (€ billion) 2.4 2.8 3.1 € 9.2 bn total 74% Western Europe 6.8 3.3 Own investment property — € 2.8 billion Western Europe — € 6.8
Slide 18: ESG characteristics of the portfolio
SUSTAINABILITY ESG characteristics of the portfolio Building-level metrics at 31 December 2025. Renewable capacity and certification of deliveries at 30 June 2026. 67% 68% 42% 32% of the standing portfolio is certified of the portfolio is EU Taxonomy of parks have EV charging stations of buildings o
Slide 19: How the joint venture model works
JOINT VENTURE MODEL How the joint venture model works VGP develops, transfers the completed asset into a 50:50 joint venture, recycles the cash, and stays on as manager. 01 02 03 04 Develop Transfer Recycle Manage VGP develops the park on its own → The completed asset transfers into → VGP recovers t
Slide 20: From transactions to a Capital Platform
A NEW GROWTH INFLECTION POINT From transactions to a Capital Platform The recycling model is proven. What changes now is the architecture around it. GROSS ASSET VALUE THAT CAN BE TRANSACTED WHAT CHANGES THE MODEL WORKS €3.6bn+ UNTIL NOW €3.5bn across an expanding range of fund and JV structures Indi
Slide 21: Asset Management grows to scale
HOW VGP CONVERTS GROWTH INTO EARNINGS Asset Management grows to scale Joint Venture fee income has compounded at 18% since 2020 WHAT THE FEE ACTUALLY IS Property, asset and facility management services provided to the Joint Ventures THE PLATFORM THE FEE IS EARNED ON €6.4bn 5.0m m² 213 assets under m
Slide 22: Renewable energy
3 Renewable energy
Slide 23: 193.4 MWp of solar installed, on a 300.8 MWp platform
RENEWABLE ENERGY 193.4 MWp of solar installed, on a 300.8 MWp platform Rooftop solar on parks VGP develops, owns and manages. Roof comes with every new building. INSTALLED CONSTRUCTION OR PERMITTING PIPELINE 193.4 MWp 32.5 MWp 74.8 MWp across 152 projects — 64% of the identified across 38 projects a
Slide 24: 250.9 MWh of battery storage across 25 projects
RENEWABLE ENERGY 250.9 MWh of battery storage across 25 projects Storage sits behind the meter in parks VGP owns, on the same grid connections as the existing solar. INSTALLED CONSTRUCTION OR PERMITTING PIPELINE 31.5 MWh 140.4 MWh 79.0 MWh across 11 projects, connected to the grid during across 4 pr
Slide 25: Data centres
4 Data centres
Slide 26: Why data centres fit what VGP already does
DATA CENTRES Why data centres fit what VGP already does Data centres monetise powered land. It is an adjacency to existing capability, not a new business. WHAT THE MARKET IS SHORT OF WHAT VGP ALREADY HAS The constraint has moved from capital to power and Every one of those constraints is something V
Slide 27: First opportunities: Frankfurt and Milan
DATA CENTRES First opportunities: Frankfurt and Milan Both convert VGP land and permitting into a power-led opportunity, subject to gating work. Frankfurt 190 MVA Milan 120 MVA Rüsselsheim, Germany Grid / power plant Paderno Dugnano, Italy grid connection 65 MVA grid (of which 50 MVA DC allocated).
Slide 28: Important notice
Important notice Purpose of this presentation Basis of preparation This presentation has been prepared by VGP NV solely for information purposes as a general Unless stated otherwise, financial information is unaudited and derived from VGP’s H1 2026 presentation of the company. It does not constitute